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E¢ cient payment services underpin the smooth operation of the economy. Competition and innovation are key drivers for payment market e¢ ciency in both the short and long run. This paper gives an overview and tries to assess the key determinants that a¤ect pricing, competition and the incentives to innovate in the payment market. While the payment landscape is changing rapidly, it is not yet clear what business model will survive.doi:10.2139/ssrn.2192046 fatcat:th6j5msihnfidihctz6exsy5ea